The Entice of Government Condos

My initial pay a visit to for the Lake District for the duration of my continue to be during the Uk was a memorable one. I try to remember sipping a cup of espresso in my little apartment that ignored the lake and currently being enthralled from the rustic charms of nature that distribute just before my really eyes. What followed subsequent was a tinge of despondence, for your lush greeneries and waters have been a thing that I couldn’t get in my beloved household region, Singapore Marina One Residences.

Now, fast-forward five yrs, and you simply could visualize my enjoyment if the Singapore authorities introduced the rejuvenation of Punggol given that the Waterfront City from the twenty first Century.

Punggol since the Waterfront Town from the twenty first Century

Historically a fishing village along with a sleepy estate in modern many years, Punggol is presently enjoying a radical transformation into an exciting waterfront town.

Within the heart of its development is a 4.two km very long waterway that embodies three essential design and style components: Environmentally friendly, H2o and folks. This remarkable extend of waterway comprises a wide array of functions and amenities – from leisure to educational – all connected jointly from the normal landscape of waters and lush greeneries. It’s no surprise why Key Minister Lee Hsien Loong described the waterway for a “green lung in the course of our limited city”.

Make no oversight, Punggol will not be all pretty much undulating landscaped hills and blue waters. By 2015, there will be a new business hub and town plaza situated proper with the MRT station, as well as city is poised to become as big as Ang Mo Kio (an immensely well-liked experienced estate in Singapore).

I strongly imagine that these are typically legitimate causes to make an early expense in Punggol although the opportunity remains there.

The Lure of Government Condos

I hear you request – may be the opportunity to take a position nevertheless there? Indeed, and it lies inside the Government Condominiums, fondly referred to as ‘ECs’.

ECs are part of public housing in Singapore but completely made and offered by non-public developers. This can be a government initiative that caters to homebuyers that are ineligible for your much less expensive HDB flats but are unable to afford to pay for costs of personal home.

Like a outcome, ECs are often supplied at a considerably decrease quantum (commonly priced 20-25% reduced) when compared with a personal condominium with related facilities, consequently creating the former way more economical.

Additionally, interested EC 1st time consumers that are qualified for your governing administration housing grants (CPF grant) can take pleasure in a subsidy of up to SGD $30,000. This can be dependent on the merged month-to-month money of the consumers. There exists also no resale levy for 2nd time prospective buyers. To understand more details on the eligibility, make sure you check with the Housing Growth Board’s EC Eligibility.